President Bola Tinubu has unveiled 65 investment projects seeking a combined $78.5bn in funding, with oil, gas and power, alongside transport and maritime infrastructure, accounting for the bulk of the proposed investments.
The projects, listed on the Federal Government’s Projects Nigeria investment portal, are projected to generate 366,763 jobs if implemented.
An independent review of the portal shows that oil, gas and power accounts for 25 projects requiring $36.4bn, while eight transport and maritime projects seek $25bn.
Agriculture and agro-processing has six projects requiring $9.8bn, while 17 projects in industry, manufacturing and mining are seeking $6.6bn.
The remaining nine projects, covering technology, health and urban services, require about $700m.
Tinubu, in a post on X on Friday, urged local and international investors to examine the proposals and engage directly with project sponsors through the portal.
“Our administration will work with you to resolve obstacles and move viable investments into execution, creating jobs and expanding opportunities for our people,” he said.
The portal lists projects across Nigeria’s six geopolitical zones, with the South South accounting for 17, the South West 11, the North Central seven, the North West seven, the South East six and the North East five.
Four projects span multiple geopolitical zones, while eight are classified as nationwide, multi-state or unspecified in scope.
**Oil, gas and power lead investment requests**
The Ondo Modular Refinery has the highest funding requirement among the listed projects, seeking $15bn for development in Ilaje, Ondo State.
Other major proposals in the sector include the Ace 3 MTPA Floating LNG project in Delta State, requiring $5.5bn; the NPK and Urea Import Substitution project across Ondo, Akwa Ibom and Bayelsa states, seeking $4.69bn; and the IESL LNG project in Akwa Ibom, requiring $3bn.
In transport and maritime, the Strategic Deep Sea Ports project, covering proposed locations including Badagry, Ibom, Ondo, Agge and Bakassi, seeks $11.5bn. The National Inland Waterways project is listed at $10bn.
The agriculture and agro-processing sector includes the One Million Hectare Tree Crops project, with a funding requirement of $6.14bn, and the Fish City Seafood Export Hub, seeking $3bn.
In industry, manufacturing and mining, the New Port City project in Eleme, Rivers State, requires $1.6bn, while the PSML Integrated Steel Upgrade is listed at $1.255bn. The Katsina Green Economic Zone and Zamfara Solid Minerals Pre-Export Finance projects each seek $1bn.
The PELIA Flare-Gas AI Data Centre in Delta State is the largest proposal under technology, health and urban services, with an estimated cost of $355.6m.
**Projects rely on different financing models**
The portal shows that 17 of the 65 projects require more than $1bn each, collectively accounting for approximately $72.3bn, or more than 90 per cent of the total funding sought.
The proposed financing arrangements include public-private partnerships, project finance, equity and debt, as well as climate finance.
Project sponsors listed on the platform include federal agencies, state governments represented through the Nigeria Governors’ Forum, private-sector companies and the Nigeria Sovereign Investment Authority.
Some project profiles also provide investment assessment indicators, including internal rate of return, multiple on invested capital, debt service coverage ratio, net present value and payback period.
The projects remain investment proposals seeking funding. The portal’s listing and projected job figures do not, by themselves, establish that the financing has been secured or that the jobs have been created.
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